Japan plans US$6.9 billion shipyard push: for US trade, defence talks leverage?
The proposal, expected to be finalised in the autumn, includes a government-backed 'national dockyard' initiative under which Tokyo would finance the restoration or construction of facilities before handing them over to the private sector to operate.
An estimated 1 trillion yen (US$6.9 billion) would be required in public and private investment, the Nikkei newspaper reported.
'Reviving the shipbuilding industry is critically important for our economic security,' said Minoru Kiuchi, minister of economic security, at a press conference on June 20.
'We will work with the land ministry to strengthen supply chains and ensure a stable supply of vessels.'
The submarine 'Raigei' is seen following a ceremony marking its delivery to the Japanese navy at a shipyard in Kobe, western Japan, in March. Photo: Kyodo
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